Re:  Port Authority Gets Industrial Recruitment Update

HELENA-WEST HELENA-The Phillips County Port Authority held its regular meeting Monday night and was updated on the industrial prospects by Executive Director Martin Chaffin.

The top prospect for the harbor remains RBE Arkansas, LLC.  RBE’s Rod Miller continues to work on the financing package for his $1.8 billion project proposed for the Helena Harbor.  Chaffin said, “We continue to be optimistic and progress continues to be made.  Rod has been slowed by some unrelated issues and I expect that we will soon witness some movement on the financing.  This remains an excellent project and I have personally been involved with some meetings with those he is working with on financing.  I remain confident that we will be able to see this project, which has the potential to reshape our entire economy, come to fruition.”

Chaffin also reported to the board that there are seven active prospects currently at various stages of considering projects for the port.  Two of those projects, which are both in the very early stages, are referrals from state economic development officials.  Chaffin said, “We have provided them with all of the information that was requested through the state.  I expect one to make a visit real soon.  Both would represent a significant investment.  One is a facility that would be engaged in the fabrication of metal.  Another would be an automobile assembly plant.  Funding will be the key to the success of both projects.”

Chaffin also reported that he has recently met with Allen Hammonds about the Port’s marketing strategy.  As part of those discussions, Chaffin also reported that he met with Joe Black, the Vice-President of Southern Financial Partners, to discuss ways that the Port could collaborate with SFP’s efforts in marketing the area.  He said, “There are some real possibilities to work together with them and the Chamber of Commerce.  Hopefully, we can get together and make that happen as well.”

Port Authority Attorney David Solomon also met with the Board to provide his opinion concerning what kinds of organizations can receive Port funds in the wake of a discussion about providing funds to the Boys and Girls Club of Phillips County.  Solomon informed the group that money given to groups like the Chamber of Commerce fall within the statutory provisions allowing the Port to have expenses to promote itself and economic development.  That statutory provision would not allow for donations to organizations involved in activities not related to the Port’s function, such as the Boys and Girls Club of Phillips County.

Board Chairman William Quiney also appointed a committee at the request of Board Member Todd Stewart to investigate the possible hiring of a consultant to evaluate the Port’s efforts and make recommendations for improved.  Stewart said he had been investigating some of these types of firms and was really impressed.  Joining Stewart on the committee are Edward Carter and Gordon Cunningham.

The next scheduled meeting of the Port Authority will be held April 28 at 6:30.